Proportion of women CEOs and MDs in Indian companies has risen to 21% in 2013, a study by global executive research firm, EMA Partners International has revealed.

Proportion of women CEOs and MDs in Indian companies has risen to 21% in 2013, a study by global executive research firm, EMA Partners International has revealed.

MUMBAI: More Indian women are making it to the corner office than ever before, beating their global counterparts to it. The proportion of women CEOs and MDs in Indian companies has risen to 21% in 2013, a study by global executive research firm, EMA Partners International has revealed, up from around 11% in 2009. According to the study, shared exclusively with ET, 45 women occupy leadership roles across the 215 companies surveyed.

Across BSE 100 companies, though, just four women occupied top leadership positions, according to the Spencer Stuart India Board Index 2012. Explaining the discrepancy, K Sudarshan, regional managing partner, EMA Partners says the study was not restricted to listed companies since they tell only part of the story.

“The companies – public, private and MNCs – have been chosen on the basis of their profile and influence within their respective industries. They generally have industry best practices and womenfriendly policies in place,” he said.

Over the next decade, the representation of women in leadership positions will improve steadily due to changing societal attitudes and the influx of more educated women in the workforce, he adds. The banking and financial services sector continues to lead the way, with women accounting for 29% (15) of the 52 CEOs covered.

A combination of factors, including the family support structure and the availability of domestic support at reasonable prices has contributed to this phenomenon in India, says HSBC India head and Ficci president Naina Lal Kidwai.

Indian companies are also becoming far more enabling in terms of the environment to help women rise to their full potential by providing daycare, flexi hours, even the option of going on a sabbatical and returning, she says.

“The sensitivity of these organisations has helped keep women in the workplace at a stage where they traditionally drop off, usually at the time when they approach middle management,” adds Kidwai.

“We are seeing a lot more women in leadership roles across the corporate world, as business confidence in their leadership capabilities has grown,” says Vanitha Narayanan, MD, IBM India and regional general manager India/South Asia. Gender diversity is a critical part of fostering cognitive diversity in an organisation, which in turn, is essential to success in a complex and fast changing world, she says. Women CEOs have gained ground in the IT/ITeS sectors, as also in FMCG, according to the study.

Recent additions include Seema Modi, India managing director at Heinz, Prabha Parameswaran, MD at Colgate Palmolive (India) and Sangeeta Pendurkar, MD at Kellogg India. In IT/ITeS, those like Vanitha Narayanan, Aruna Jayanthi, CEO at Capgemini India and Kumud Srinivasan, president at Intel India, have contributed to shoring up the number of women in leadership positions.

When presented with opportunities, women have been able to prove themselves, says Srinivasan. “These sectors have created opportunities which are accessible to women as never before,” she adds.

Companies have helped them to be geographically mobile and given them access to multiskilling, paving a road for women leaders to evolve and grow. The work life effectiveness initiatives by organisations has also contributed to this influx, she says. “A lot of organisations practice non-discriminatory policies and stand for equal opportunities employment,” adds Srinivasan.

The survey also highlights that non-promoter women executives are fast making inroads into the leadership hierarchy in organisations. Around 29% of the women CEOs in this survey are from promoter families compared with 35% in 2009.

Consulting, travel, retail, media and manufacturing trail in terms of sectoral distribution of women CEOs. Intel’s Srinivasan says that while organisations have realised the importance of diversity practices, there is still a lot of unrealised potential.

“Companies have to invest more in hiring and development. We have to improve our diversity and inclusiveness goals, practices and initiatives significantly, to create industry standards,” she says. Globally, women hold just 4.2% of Fortune 500 CEO positions and 4.5% of Fortune 1000 CEO positions, according to Catalyst, a New York-based research group.